Project Management Essentials

Last updated at: 29/03/2019 07:21 AM

Project Management Essentials

Project management essentials encompass the various methods and approaches that are used by project managers to carry out effectively the five phases of a construction project management which include initiation, planning, execution, monitoring, and closing. Project manager uses different techniques in developing a harmonious relationship with team members and effectively managing the expectations of the concerned stakeholders, including business manager and technical operators, company management and respective team members.

As companies aim to increase proficiency and productivity in the ever-changing nature of modern businesses, the strategy that is to be implemented by the organization should focus more on selecting, prioritizing and delivering of an expected project output within the specified time frame.

An active construction project management is one of the elements to the company’s strategic objective; a framework that ensures that project budgets, resource allocation (human and material), tracking and evaluation are utilized effectively throughout the project life cycle. Construction project management provides that organizations do projects in the right manner of approach.

Projects come in different shapes and sizes ranging from small, simple ones to bigger and complicated projects. Irrespective of the nature of the project, five basic project management essentials ensure a successful project output.

Whether your project is about improving an existing process or techniques, change management or implementation of a new system, managing projects will require the same primary considerations. Get this project right, and you could manage a project successfully; get them wrong, your plans will be bombarded with challenges, delays, and problems.

There are five major project management essentials that ensure a project reaches the predetermined level of success :

1. Strategic Planning

The first stage in managing any project size is the requirements of the project and the goals and objectives that should be achieved after the project. Before strategic planning could prepare, the project must be able to fulfill the SMART conditions meaning such projects must be specific, measurable, attainable, relevant and timely. Project measures and important milestones should also be specified so that the project can track during the development stages. To achieve the specified requirements and set objectives, project managers must work closely with the concerned stakeholders and various departments handling one aspect of a project.

2. Product Development

Various activities can be assumed to be called projects once it involves the development of new processes, services, and implementation of a new system. The specified business goals and objectives must be closely linked to the development of these needs and in turn, adding higher value to the organization. Before starting a project, the benefits of the project should be well defined so that the success of a project should reflect on the overall impact of the business aims.

3. Communication

Implementation of a new processor development of service requires that end users understand why a project is profitable and potential users need to be convinced about the benefits of the new facilities. For example, if a construction project management software is developed to ease the difficult tasks faced by many project managers in the sectors. It is essential that the developer of the new software explain the advantages of the software that is adapted to his business. Passing the information about why the new service is beneficial will help counter the universal nature of the human being reluctant to change.

4. Resources

It is essential that specific resources are put in place and managed efficiently such as individuals, finances, time, equipment and material. Construction companies must ensure they hired qualified individuals (general contractors, project managers, subcontractors) and provide the necessary material and equipment required to complete the projects. It is also essential that the allocated budget for the project is well managed and the appropriate plan is prepared for project completion.

5. People

No project manager work single-handedly; many stakeholders have invested a substantial amount in terms of money and efforts to the achievement of the project, these stakeholders have one role or the other to play in the accomplishment of the project. The significant stakeholders who drive a plan to its successful completion include:

Sponsor: There are specific business objectives or needs that lead to the creation of a project. The project sponsor clearly defines these business objectives. Frequently, he is also responsible for financing the project. He can be a member of an organization or someone from outside.

Project Manager: It is the duty of a project manager to create an effective project plan and ensures it meets the project scope, schedule and achievable within the allocated budget. He is also responsible for assessing and managing risk, managing various changes during a process, and managing tasks so that they are completed according to the project plan.

Project Team Members: Project team members include all individuals working with the project manager to achieve the specified goals and objectives. They may consist of the contractors, builders, remodeler, subcontractors and technicians.

Putting into consideration essential, you can be so sure the project will be a successful one.